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Deutsche compliance head leaves

DBDeutsche Bank’s global head of compliance, Andrew Procter, will leave the bank after German regulator Bafin put pressure on the bank to make changes in senior personnel. Procter, global head of compliance, government and regulatory affairs at the German bank, was one of several names singled out by Bafin in a report leaked in January, which called into question the bank’s attempts at a ‘cultural transformation’. In the report, the regulator said the bank had failed to draw the necessary consequences with senior personnel following an interest rate manipulation scandal. Deutsche Bank said in an internal email that Procter was returning to practice law at his own wish. Daniela Weber-Rey, named as deputy head of global compliance by the bank in April, will lead a team managing Procter’s activities until a permanent replacement is named, a bank spokesman said. In December, the bank had created a new senior position to govern compliance and risk management throughout the group and named a top McKinsey consultant, Thomas Poppensieker, to fill it. Procter joined Deutsche Bank in 2005 and, as compliance chief, reported to management board member Stephan Leithner.

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